ETHERLive
ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.

---

24hr ---
--%
Thursday Dec 14th 2017
RESOURCES

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More
SUBMIT

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story

Explanation

Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
---
--%
Home
News
Etherlive
Ether Price Analysis
Resources
Contact Us

Disberse Saves Charities Money By Using Blockchain To Verify Donations

By

Jeremy

Nation

WriterETHNews.com

Aid networks are testing blockchain-based solutions as applied to humanitarian finance.

The Start Network, an amalgam of 42 national and international aid agencies, reported on July 11, 2017, that it is researching blockchain-based models for delivering humanitarian aid with fund management and distribution platform Disberse.

Among the project's goals are to increase the rapidity of aid distribution and to infallibly trace transactions from donor to recipient. Ultimately, the blockchain technology would act as a monitoring system to ensure those in need receive the funds in question while simultaneously mitigating exchange rate-based losses.

In the current banking systems, high fees and transaction longevity present inefficiencies that can be costly to both the organizations providing aid and the individuals who need it. These issues are complicated by volatile exchange rates in countries wherein economic infrastructure is severely lacking, which is often the case in places marred by humanitarian crises.

Disberse combats the loss in exchange rates and intermediary fees. It completed a pilot program with UK-based charity Positive Women by which it reduced losses at delivery points for a Swaziland aid project to a null. Funds were tracked as they traveled from the UK to four Swazi schools by way of a non-governmental organization; the project's savings were enough to pay the annual fees for an additional three students.

Sarah Llewellyn, director of Positive Women, spoke of the benefits revealed by the pilot program:

“We normally use our bank to transfer funds, but transfers have become increasingly expensive and slow. Using Disberse, we saved 2.5 per cent [on forex fees], which covered the costs of a year’s education for an additional three girls. We could also see our funds being distributed to partners and schools, enabling us to spend less time monitoring, and more time demonstrating impact to our donors.”

The Start Network plans to scale up the Disberse platform to meet a greater demand by testing the system over six months with a series of small disbursements.

Sean Lowrie, Director of the Start Network, explained how the project may initiate a new manner of operation in the aid industry.

“This exciting partnership could lead to the transformation needed in the way money flows through the humanitarian system. The Start Network is testing innovative solutions to many humanitarian challenges to enable aid agencies to be more efficient and effective. This new project could catalyse a new way of working, one that is transparent, fast and which drives accountability to taxpayers and those affected by crises.”

Disperse, notably a member of ConsenSys’ Blockchain for Social Impact Coalition, was born from an ambition to preserve and improve the impact of aid finance, according to its CEO and Co-founder, Ben Joakim. "We believe in the purpose of aid, but recognise it is constrained by inefficiencies," he said. "Using blockchain technology, we digitise and distribute donor funds through the chain to recipient beneficiaries. These transactions are transparent, and can be viewed online, ensuring funds are distributed and delivered as intended.”

If properly utilized, blockchain technology has the capacity to diminish the corruption present in the aid industry by presenting an immutable record of transactions from donor to recipient. The work endeavored upon by the Start Network and Disperse stand to make that possible future a reality.

Jeremy Nation

Jeremy Nation is a writer living in Los Angeles with interests in technology, human rights, and cuisine. He is a full time staff writer for ETHNews and holds value in Ether.

ETHNews is commited to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Disberse, Start Network or other Ethereum application news.